First, reset points are established at points where the opening price of the interval changes.
Next, ( ) is calculated. It is the cumulative sum of typical price times divided by the cumulative . The cumulation starts over upon each reset point.
After that, Weighted Average Range (VWAR) is calculated. The formula structure is the same as , except using range rather than typical price.
Lastly, the bands are calculated by multiplying the VWAR by the specified multiplier (approximate Golden Ratio by default) and by 1 through 5, then adding to and subtracting from the .
Custom Bar Colors are included.